综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / View

Opening the liquidity tap a little ensures further reforms

By Ed Zhang (China Daily) Updated: 2015-02-09 07:45

The timing that the People's Bank of China chose for lifting the credit supply says a lot about Chinese leaders' economic concerns.

On Wednesday, the Chinese central bank announced a 0.5 percentage point cut in the banks' reserve requirement ratio, thus releasing, according to economists, more than 100 billion yuan ($16 billion) of liquidity to the money market.

Lowering the RRR failed to excite the short-term investors, because the economy was surrounded by too many discouraging data.

Most investment houses had forecast that China would make a cut in RRR or in the interest rate in the first quarter of the year. But it is obvious that doing so two weeks before the Lunar New Year, on Feb 19, would produce a larger benefit for the economy than after the holiday, which, in many parts of the country and therefore at many companies, will not effectively end until the second week of March.

If the central government waited until then to make any move to implement what it terms a flexible monetary policy, the policy's effect would be very small, if not negligible, for the whole first quarter.

Obviously it would not be what Premier Li Keqiang wants. At least, he doesn't seem to want the first quarter to go by showing GDP growth lower than 7 percent year-on-year.

During the several symposiums he has held with economists, corporate leaders and other opinion leaders in the run-up to the annual session of the National People's Congress, scheduled to open March 5, he has been quite candid about the fact that the economy is besieged by "many difficulties".

Although an immediate general crush is unlikely, none of the solutions at the moment is perfect, he admitted. Implicitly, a not-so-perfect move will have to be made at times, just to keep the economy from a less desirable situation.

Chinese leaders have made it clear that their priority is reform. And it is to be reform in many ways, as they have promised. But in order to carry out reform, they have to guarantee for the economy a minimum growth rate to avoid letting some of the regular problems, say unemployment or inflation, interfere with the ultra-complicated reform operation.

Some continuing growth momentum is, therefore, economic insurance for reform. As with an individual health insurance policy, that policy will need to be topped up from time to time to keep up its lasting effect.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
琼结县| 广饶县| 奉贤区| 龙口市| 温泉县| 岳普湖县| 清水河县| 和平区| 阳西县| 西丰县| 乃东县| 正镶白旗| 龙川县| 巴楚县| 黔南| 湖北省| 西畴县| 府谷县| 玉环县| 江都市| 合肥市| 嘉善县| 正蓝旗| 涿鹿县| 江阴市| 吉林省| 两当县| 禹州市| 五台县| 贵德县| 延津县| 周至县| 汤原县| 忻城县| 锡林浩特市| 湖口县| 阿尔山市| 龙海市| 鹰潭市| 东台市| 太仆寺旗|